Integra Resources (NYSEAMERICAN:ITRG) Trading 7.3% Higher – Here’s What Happened

Integra Resources Corp. (NYSEAMERICAN:ITRG) rose 7.3% during trading on Friday . The stock traded as high as $3.55 and last traded at $3.5830. Approximately 418,062 shares changed hands during mid-day trading, a decline of 86% from the average daily volume of 2,903,219 shares. The stock had previously closed at $3.34.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. Canaccord Genuity Group began coverage on Integra Resources in a research report on Monday, January 12th. They set a “moderate buy” rating and a $9.25 price objective for the company. HC Wainwright boosted their target price on shares of Integra Resources from $5.00 to $7.25 and gave the company a “buy” rating in a research note on Wednesday, January 28th. Finally, Roth Mkm set a $7.00 price target on shares of Integra Resources in a report on Tuesday, January 27th. Three investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $7.83.

Integra Resources Trading Up 6.7%

The company has a quick ratio of 1.05, a current ratio of 1.58 and a debt-to-equity ratio of 0.02. The stock has a market capitalization of $653.14 million, a PE ratio of 39.62 and a beta of 0.72. The business’s fifty day moving average is $4.06 and its 200-day moving average is $3.13.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of ITRG. Independent Advisor Alliance acquired a new stake in shares of Integra Resources in the fourth quarter worth $40,000. Hohimer Wealth Management LLC purchased a new stake in Integra Resources during the 4th quarter worth $40,000. Brookstone Capital Management purchased a new stake in Integra Resources during the 4th quarter worth $41,000. Bank of America Corp DE increased its holdings in Integra Resources by 336.4% in the 4th quarter. Bank of America Corp DE now owns 46,697 shares of the company’s stock valued at $41,000 after purchasing an additional 35,997 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC purchased a new position in Integra Resources in the third quarter valued at about $42,000. Hedge funds and other institutional investors own 26.67% of the company’s stock.

About Integra Resources

Integra Resources Corp. is a mineral exploration and development company focused on the acquisition, characterization and advancement of precious metals projects in North America. The company’s flagship asset is the DeLamar Gold-Silver Project in southwestern Idaho, a historic mining district that produced both gold and silver from the late 19th century through the mid-20th century. Integra’s business model emphasizes resource delineation, metallurgical optimization and progression through permitting and engineering phases toward potential production.

Since its incorporation in 2017, Integra Resources has undertaken multiple drilling campaigns and metallurgical studies aimed at upgrading and expanding the known mineral inventory at DeLamar.